(a) In general
(1) Authorization
There is authorized to be appropriated to carry out this subchapter (other than part E of this subchapter) $105,000,000 for fiscal year 2004, and such sums as may be necessary for fiscal years 2005, 2006, 2007, and 2008.
(2) Allocation
(A) Parts A and B of this subchapter
From the amount appropriated under paragraph (1) for a fiscal year, the Secretary shall reserve not less than 90 percent to carry out parts A and B of this subchapter.
(B) Part B of this subchapter
Of the amount reserved under subparagraph (A), 45 percent and, in those fiscal years in which continuation grant obligations and the quality and number of applicants for parts A and B of this subchapter warrant not more than 55 percent, shall be reserved to carry out part B of this subchapter.
(3) Parts C and D of this subchapter
In each fiscal year, after reserving the amounts required by paragraph (2), the Secretary shall use the remaining amount (if any) to carry out parts C and D of this subchapter.
(4) Part E of this subchapter
There is authorized to be appropriated to carry out part E of this subchapter such sums as may be necessary for fiscal years 2004, 2005, 2006, 2007, and 2008.
